Lloyds TSB Commercial Finance has arranged
major factoring facilities for two UK companies.
KJM, a Leeds-based specialist courier firm,
received a £150,000 facility to help it relocate to a larger
warehouse as demand for its services increases.
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Advisor J.G. Associates introduced the company
to Lloyds, which then provided the facility, leveraging the
company’s sales ledger in a bid to boost cash flow. KJM will now
move into a 9,000-square foot warehouse in Leeds and will also open
new premises in Manchester.
In the long term, the company is planning to
open branches in London and the Midlands.
Peter Bould, regional manager at Lloyds TSB
Commercial Finance, said: “The factoring facility is ideal for
firms looking to expand as they grow in line with sales and as a
result, KJM is in a strong position to implement its development
strategy, which could create a minimum of 10 further jobs across
the country.”
Souvenir maker Tosh, based in East Sussex,
also received a five-figure factoring facility from Lloyds, but did
not disclose the total amount.
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By GlobalDataIt is planning to use the facility to help it
reach a turnover of £300,000 this year, an increase of 40%.
David McLagan, creative director of Tosh,
said: “The factoring facility from Lloyds TSB Commercial Finance
has now put us in a position to increase production and put in
motion our strategy, to capitalise on the increase in tourism
generated by London 2012.”
